Ambulatory EHR Market Size Forecasted to be Worth USD 6.66 Billion by 2027, according to a Latest Study by Emergen Research
According to a report that was recently published by Emergen Research, the market for ambulatory EHRs (electronic health records) is projected to reach a value of USD 6.66 billion in 2027, up from USD 4.48 billion in 2019. This represents a compound annual growth rate (CAGR) of 5.4% throughout the forecast period. As the demand to save operating expenses in the healthcare industry continues to grow, it is anticipated that the revenue generated by the ambulatory electronic health record market will increase significantly over the course of the forecast period. It is anticipated that in the near future, governments will make increasing attempts to include EHR programmes into healthcare organisations in order to provide support for the expansion of the worldwide outpatient EHR industry. In addition, expanding government initiatives to maintain and improve patient health record platforms are anticipated to further drive the worldwide ambulatory EHR market over the duration of the projected year.
During the period covered by this estimate, it is anticipated that the high costs associated with the development of outpatient EHR systems will act as a restraint on the worldwide outpatient EHR market.
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The Most Important Aspects of the Report
October 2019 will see the beginning of work on the next generation of electronic health record systems that will be developed by Allscripts Healthcare Solutions, Inc. in collaboration with Northwell Health. In order to integrate patient-facing tools in the most effective manner possible, a cloud-based, artificial intelligence (AI)-based, voice-enabled electronic health record will be designed and validated with the input of Northwell’s subject matter experts, information technology specialists, and administration.
The cloud-based subsegment is predicted to increase throughout the projection period at a compound annual growth rate of 5.5 percent, making it the dominant subsegment in the deployment market segment. The EHR solution for outpatients that is hosted in the cloud offers a number of advantages, including a streamlined implementation, deployment that is more cost-effective, a reduction in the number of IT requirements, robust collaboration between medical professionals and patients, and excessive interoperability. It is anticipated that this will result in the segment’s improvement in the not-too-distant future.
Due to the ability of large practises to find solutions to problems with the quality of electronic health records, it is anticipated that the large practise sub-segment would lead the market during the period covered by the forecast. The increase in segmental capital spending is another factor contributing to the expansion of the segment.
It is anticipated that the practise management sub-segment would hold the biggest market share during the time covered by the forecast. The implementation of practise management assists clinical practise management, which would be improved as a result of the maximisation of practise quality and the reduction of expenses. In addition, advantages such as decreases in transcribing costs and improved documentation procedures are anticipated to stimulate demand for this sector during the time covered by the forecast.
It is anticipated that the hospital-owned ambulatory centres sub-segment would dominate the market throughout the course of the projection period. It is anticipated that during the period under consideration, increased levels of government support for the implementation of EHR solutions in healthcare institutions will act as a driving force for the market.
During the time period covered by this research, North America is anticipated to have the leading position in the global market. The rapidly expanding rate of adoption of electronic health record solutions and the rising level of spending on healthcare in North America are the primary factors driving the market there.
The following companies are considered to be key market participants: Modernizing Medicine, Inc., CureMD Healthcare Corporation, Epic Systems Corporation, McKesson Corporation, Greenway Health, LLC, Cerner Corporation, Allscripts Healthcare Solutions, Inc., MTBC, Inc., Computer Programs, and Systems, Inc.
The global ambulatory EHR market has been broken down into several submarkets by Emergen Research based on deployment, practise size, application, end-use, and geographic location.
Forecast for Deployment (Revenue, in Billion US Dollars; 2017–2027)
Forecast for Practice Revenue in Billion Dollars from 2017 through 2027
Practices on a Small to Moderate Scale
Prospects for Applications (in terms of Revenue, in Billion US Dollars, 2017–2027)
electronic prescriptions, health analytics, and practise administration management
Support for Patient Management Decisions Management of the Patient Population’s Health
Future Prospects for End-use (Revenue, in Billion US Dollars; 2017–2027)
Ambulatory Care Centers That Are Owned By Hospitals
Forecast for Regional Revenue (in Billion US Dollars, 2017–2027)
The Remainder of Europe
South Korea (de)
The Remainder of APAC
Latin America (region)
The Remainder of LATAM
Africa and the Middle East
UAE; the Remainder of MEA